ZenaTech, Inc. (NASDAQ: ZENA) said its recently acquired subsidiary Velocity Geomatics is operating in a stronger market, citing a roughly 45% increase in average WTI and Western Canadian Select crude prices in the second quarter of 2026 compared to the same period a year earlier, according to data from Oil Sands Magazine.

ZenaTech completed the acquisition of Velocity Geomatics, also known as the Velocity Group, in July 2026. Based in Grande Prairie, Alberta, Velocity provides drone-based regulatory and environmental surveys to oil and gas producers and operates from four offices across Alberta, British Columbia, and Saskatchewan.

The company said approximately 80% of Velocity's current projects already use drone-based workflows. The acquisition is ZenaTech's first focused specifically on geomatics for environmental and regulatory compliance in the oil and gas sector.

"Higher oil prices are improving cash flow for producers today, supporting drilling, infrastructure, reclamation and environmental compliance work that drives demand for our surveying and inspection services," said Shaun Passley, Ph.D., Chairman and Chief Executive Officer of ZenaTech.

According to a forecast cited from Royal Bank of Canada, Canada's oil and gas industry is expected to attract more than US$500 billion in investment over the next decade, driven by growing energy demand, expanded export capacity, and infrastructure and environmental investment.

ZenaTech noted that asset retirement and reclamation projects are driven by regulatory requirements rather than discretionary spending, which the company said creates demand across commodity price cycles.